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Cheniere & EOG Resources Announce Long Term Gas Supply Agreements

Gasoil News - Published on Fri, 20 Sep 2019

Image Source: vesselfinder.com
Cheniere Energy Inc announced that its subsidiaries, Corpus Christi Liquefaction, LLC and Cheniere Corpus Christi Liquefaction Stage III, LLC, have entered into long-term gas supply agreements with EOG Resources Inc. Under the GSAs, EOG has agreed to sell natural gas to Cheniere over a period of approximately 15 years beginning in early 2020, with the quantity starting at 140,000 MMBtu per day and increasing to 440,000 MMBtu per day. The LNG associated with 140,000 MMBtu per day of this gas supply, or approximately 0.85 million tonnes per annum, will be owned and marketed by Cheniere and EOG will receive a price based on the Platts Japan Korea Marker for this gas. The remaining 300,000 MMBtu per day will be sold by EOG to Cheniere at a price indexed to Henry Hub.

A portion of the transaction is subject to certain conditions precedent, including a positive final investment decision on Cheniere’s Corpus Christi Stage III project. The Corpus Christi Stage III project is being developed to include up to seven midscale liquefaction trains with a total expected aggregate nominal production capacity of approximately 9.5 mtpa. The Corpus Christi Stage III project received a positive Environmental Assessment from the Federal Energy Regulatory Commission in March 2019 and is anticipated to receive all remaining regulatory approvals by the end of 2019.

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Posted By : Rabi Wangkhem on Fri, 20 Sep 2019
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